12:05 - 27.01.2025
January 27, Fineko/abc.az. U.S. President Donald Trump's decision to impose sanctions and trade duties on Colombia could further exacerbate the already record rise in coffee prices.
ABC.AZ informs, referring to portal Axios, that this South American country is the second largest supplier of coffee in the U.S.
"The retaliatory duties imposed by Trump in the amount of 25% against Colombia can only exacerbate the sharp rise in coffee prices currently being observed, as a result of which Americans will pay even more for their morning cup [of coffee]," the portal writes.
"Grains from Colombia make up 20% of all coffee imports in the U.S. And the only larger supplier, Brazil, is experiencing the effects of crop failure after a series of weather disasters," Axios points out.
As noted in the article, even before the latest sanctions were imposed, coffee bean futures had risen in price by 45% over the past six months. The consumer price index for coffee in the U.S. has increased to a record high in several decades.
Last week, Bloomberg reported that wholesale coffee prices have recently exceeded the historical maximum set back in the late 1970s. The article noted that the increase in retail prices following them is a matter of days or weeks.
